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1  Bitcoin / Legal / Bitcoin Legal Status in India Explained! on: February 01, 2018, 05:49:55 PM
So there are a lot of people spreading word about how Arun Jaitley our very own finance minister today said in budget that Bitcoin will not be allowed to be a legal tender. Moreover govt. will try to curb use of bitcoin for illegitimate activities as well as shift it out the system.

Question : Is it banned?
Answer: No, It is still not banned. Banning meanings complete restriction on holding, trading, transferring bitcoins. Anyone found doing this will be penalized. There is still no such penalty so no its not yet banned in India.

Question: If its not banned then why not legal tender?
Answer: Bitcoin doesn't really needs a legal tender. The legal tender will be of no use to bitcoin. Moreover it will bring some inflow of money laundering using which the whole money will flow outside the fiat system making it difficult to control economy.

Question: What in future?
Answer: If they have said that such activities will be tried to curb then its obvious India might bring in some laws which will limit or even may shut usage of bitcoin in future. Remember there is nothing as such now.

Question: What should we do?
Answer: You can have two approaches. If you are ready to take a bit of risk but to enjoy using bitcoin hold it and wait for any further announcements. or have a pessimist approach and withdraw your money altogether and live a happy and peaceful life.

I hope I have contributed a bit in removing the FUD.
2  Bitcoin / Development & Technical Discussion / Lightning Network | A boon or A bane? on: January 31, 2018, 05:42:38 PM
People are quite anticipated with the lightning network and we clearly have two different sets of people either who support it or the ones who hate it due to its centralization. But what I have seen is that most of people don't even know about it properly. So here is a video that will help you learn a bit about it.

Now after watching this I have this list of pros and cons

1. Less Traffic over the blockchain.
2. So low fees.
3. Low transaction times.

1. Less Incentives for miners as more transactions will happen off chain.
2. Deposits of some funds will be required to create channels to operate.

Please add to these pros and cons if I am missing something.
3  Bitcoin / Bitcoin Discussion / Around 4 Million Bitcoins lost forever!! on: November 26, 2017, 06:57:31 PM
Just came across this article today says that 4 million out of the total supply of 21 million have already been lost due to various reasons. The most popular reason are the HODLers who are holding it for quite long. These people have reduced the supply of bitcoins in market which has upsurged the price of bitcoin so much. Satoshi surely is the biggest HODLer himself.

Here is the article :
4  Economy / Micro Earnings / Please help, I am faced with problems on: January 13, 2017, 06:01:46 AM
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A little sorry my English is poor
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8  Economy / Micro Earnings / Is AdBTC scame???? on: October 11, 2016, 05:08:27 AM

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11  Economy / Micro Earnings / ♥♥Bitcoin list of the best sites ♥♥faucetbox♥♥ ! ! paytoshi ♥♥♥ on: April 14, 2016, 06:05:37 PM
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